What is an Annuity?
When you reach your retirement age, your pension doesn’t automatically start paying you an income. You have to convert it to a product such as an Annuity, and it’s this Annuity which will then pay you a regular income for the rest of your life.
How does an Annuity work?
When you convert your pension pot into an annuity you get a guaranteed income for the rest of your life, and also the option of a 25% tax free lump sum to be spent however you wish. An Annuity also has the added option of being paid to a spouse or partner for the rest of their life, upon your death.
How much can I get from an Annuity?
There are a huge number of factors that can dramatically alter how much income you receive from your Annuity, these range from medical conditions, life style, and even geography. The only way to get an accurate figure is to take all of these factors into account with a complete quote.
How do I get an Annuity?
You can get a rough estimate of how much you can get in retirement by using our free online calculator, but if you would like a more accurate comparison from our entire panel of lenders, we also offer a completely free and impartial review through our friendly call centre.
What is Equity Release?
Equity Release is simply a way of taking money out of your property. The difference between the value of your house and what you owe on it (if anything) is called the Equity. Equity Release is simply the process of releasing this money for you to spend however you wish.
How does Equity Release work?
This is achieved by us undertaking a free and impartial financial review, where we look at your current financial situation and propose a number of options available to you. You choose the best option – we simply take care of the rest.
How much can I get from Equity Release?
That depends on your age and the value of your house. For example a 65 year old can release 30% of equity, without the need for any checks. If this is not enough we also have alternative schemes that can lend you up to four times your income.
How do I Release Equity from my home?
For your free financial review which will cover not just Equity Release but also all other options available to you, just give our friendly call centre a call – there’s no obligation and no cost to you to find out how much better off you could be in your retirement.